GST Compliances to be done in March 2021
Table of Contents
GST Compliances to be done in March 2021
Monthly/Periodic Compliances
| GSTR-7 | 10 March 2021
(TDS Return) by Tax Deductors for February 2021 |
| GSTR-8 | 10 March 2021
(TCS Return) by E-Commerce Operators for February 2021 |
| GSTR-1 | 11 March 2021
(Monthly return of Outward Supplies) for February 2021 for Big taxpayers |
| IFF | 13 March 2021
Upload B2B invoice details using IFF, For Small Taxpayers who opted for QRMP Scheme |
| GSTR-6 | 13 March 2021
(ISD Return) by Input Service Distributors for February 2021 |
| GSTR-5/5A | 20 March 2021
(Return by Non-resident taxable person) for February 2021 |
| GSTR-3B | 20 March 2021
Summary Return for payment of tax for February 2021 for Big taxpayers (TO>Rs 5 Cr) |
| GSTR-3B | 22/24 March 2021
Summary Return for payment of tax for February 2021 for Small taxpayers who do not Opt for QRMP scheme (TO |
| QRMP | 25 March 2021
GST payment for the month of February 2021 under the QRMP scheme |
| CMP-02 | 31 March 2021
The due date for opting for Composition Scheme for the FY 2021-22 (CMP -02) |
| GSTR-9 | 31 March 2021
Annual Return for FY 2019-20 |
| GSTR-9C | 31 March 2021
Reconciliation Statement for FY 2019-20 |
| LUT | 31 March 2021
Apply for LUT for FY 2021-22 |
Related Topic:
CESTAT Order in the case of M/s. ICICI Econet Internet And Technology Fund
Other Compliances
Unique Invoice Number
As per the CGST Rules, the invoice number shall be unique for the Financial Year
Taxpayers shall start again their invoice number series for FY 2021-22
Cross Charge
Finalize cross charge billing for the inter-unit transaction for the FY 2020-21 as per agreement/MOU
Turnover Reconciliation
Turnover of Provisional Profit and Loss account should be checked to see whether any additional compliances need to be undertaken by the company
Common Credit
Rule 42 and 43 of the CGST Rules provides for reversal of ITC availed on goods and services used for supplying taxable supplies and exempt supplies before 31 March 2021
80 % RCM
In Real Estate, the promoter is required to purchase 80 % input and input services from a registered person in the financial year project wise
GST Liability under RCM @18% shall be paid for the shortfall
Related Topic:
GST compliances for Goods transport agency
Payment to Vendors
The company is required to show the amount of creditors at year-end in its balance sheet
The company shall compile the list of creditors to whom payment has been pending for 180 days and reverse the credit
